Friday, February 1, 2008

Debt Slave

Throughout human history there has been a struggle between those who prosper on the backs of the needy and the poor looking to simply better their life.

What is Slavery?

The financing machine that we are operating in will only stop when the mentality of those damaged by it realize that they are slaves to their own personal consumption. People are literally mortgaging their lives away to debt. In no other time in history are working class folks able to purchase a large home, top of the line automobiles, furnish their homes with all the modern gadgets, and pay for it later in the future.

Only they are not able to pay for it. Adjustable Rate Mortgages and other financial voodoo have rendered the American Dream a nightmare for many middle of the road families. The working class is being squeezed into a tighter and tighter funnel as jobs are lost to overseas contractors and wages plummet.

That 6000 square foot American Dream house they purchased with "reasonable" monthly payments has become a prison as the housing bubble collapses, job market shrinks, inflation skyrockets and the "reasonable" mortgage resets to the real 28 year value.

The goal of the housing bubble was not to put working American's into affordable houses...giving them a piece of the American Dream. The goal was to tie the free and mobile American working class into a life of debt slavery where their existence is controlled by the lending institutions...the Banking Industry. The new debt slaves will do anything to stay in their homes, continuing the illusion of wealth they were told they needed to strive for. They will take less and less working more and more to further the dream.

Slavery is defined as:

the state of being under the control of another person

work done under harsh conditions for little or no pay
The reality is that most will continue working at wages that barely sustain them rather than face losing the very home that enslaves them. This was the plan, you are a complacent debt slave facing a life owned by someone else, living by their plan.

What is Security

Security is a life lived by your rules, without a master. This can only be accomplished without debt, without an overseer. Security is not a home, Hummer and plasma TV, security is the ability to move through life without the trappings of consumerism.

Security is defined as:
defense against financial failure; financial independence

freedom from anxiety or fear
You fear the loss of stuff. You can only be independent, be secure, if you cast off the shackles of debt, learn to exist without the unnecessary crap, learn to exist independent of the institutional systems holding you in place. Break the chain. They can only enslave you if you let them. Get out of debt, be free.

15 comments:

theotherryan said...

I guess success is all very relative. My dad has a 1,600 sq ft house which I consider pretty darn nice (though I would get one with a basement). To me the American dream is getting a nice house that you can AFFORD. As time goes by maybe you either fix up your house or get another one. I am never going to own a mansion because my chosen profession does not lead to great riches. I can however in time get a pretty decent house on a nice piece of land.

I think that these days we are as much slaves to debt as we want to be. People can get a good job and live rent free in a trailer on junk land and save lots of money or they can get an adjustable rate morgage for a house they can not afford/

Michael Hawkins said...

Bear, you should head over to google and query "bonded labor"

For decades the "industrialised" nations have been fighting debt bondage overseas, now it has come to our own shores.

I'd like to beleive we were blind to our own faults and flaws, but that would be lying. These events are anticipated and engeneered by other people.

judyofthewoods said...

Another thing to consider, apart from the cost of a home, is its upkeep. Even a mortgage-free home can suck the life blood from you if its large size or popular location mean huge running costs, maintenance or tax bills.

And here my faithful stand-by quote for when things might really get bad:

Only when we have lost everything, are we really free to do anything.
Tyler Durden - Fight Club

judyofthewoods said...

PS - Cars are often another big investment and perpetual drain of resources. There are people who are not only foolish enough to buy monsters, but are even more foolish in the way they try to shake off the monster

Anonymous said...

Oh, please: Cut the Marxist crap already.

If you CHOOSE to be an employee, then you're CHOOSING to receive lower pay and lower freedom in exchange for more security.

If you CHOOSE to learn a high-paying skill, and how to make money work for you, then you're no longer a slave to money.

You're making a choice to view ownership of "stuff" as something that must indebit you. I own stuff. I enjoy my stuff. And I don't need to go into debt to afford it, either.

- CRJ.

judyofthewoods said...

CRJ, you are missing the point, it has nothing to do with Marxism, but anyone who lives above their means or perilously close to their limit, wherever that limit is, could find themselves with an expensive mill stone in an economic downturn. Fact is, a lot of people do live on tomorrow's promise. Recognizing that such enslavement is an orchestrated move from the powers that be, does not make you a Marxist, it just makes you aware. Besides, Marxism is just another slave master.

BigBear said...

I also have stuff and pay cash for that stuff most people cannot do that. Our economy is built to lock people into debt, it is rare to be debt free.

I'm not saying that you shouldn't have stuff, I am saying that you shouldn't have debt.

BigBear said...

Well put Judy

Anonymous said...

Maybe I misunderstood you... But it seems like you're blaming society for making debt easy to obtain. But this is like blaming the fat ass for over-eating, simply because the food was in the pantry, no?

Off on a slight tangent: Radio Shack has phoney surveillance cameras for about $20 a piece (maybe less in the States). I've found them to work well. Although the police might mistake your cabin in the woods as a meth lab. LOL.

- CRJ.

BigBear said...

Your debt controls your destiny.

Global Corporations want you in debt and working for the lowest wage they can pay.

Low debt load gives you more options in the job market. You can leave jobs, negotiate for more money/perks and demand higher pay. You can afford to be unemployed.

High debt load locks you into whatever they will pay. You can't leave your job, you will do more for less and perks such as insurance, can be cut or eliminated. If you are unemployed you will loose the house, car and plasma TV. With high debt you will be stuck and obediently do your job regardless of the conditions.

BigBear said...

CRJ

Voracious consumption is what society teaches. Easy debt is the banking industries way of make lots of money off society.

Voracious consumption plus easy debt traps people in debt slavery.

I actually have real camera's but they were up on the ridge taking pictures of wildlife. They will be moved this week.

Two For The Road said...
This comment has been removed by the author.
BigBear said...

I really did a bad job on this post, I will try to put something out with some clarity later this week. This one just didn't come out quite right I have a valid point in there somewhere to make just didn't hit it. Sorry

I was told not to post it as is, it didn't get the point across. I will listen next time.

fortycalglock said...

I don't think you did a bad job. I got your point. I remember older folks talking about "buying on time" like it was the worst thing in the world. Unfortunately, that generation has either passed or is near the end. I don't think anyone here objects to someone owning a 6000 sq ft mansion as long as they can afford it and its upkeep, along with saving and investing a decent chunk of their income. It's the ones that can't that's the problem, and I imagine the ratio is easily 10 to 1 these days. We don't teach fundamentals in high school or college, yet we expect people to know how to balance checking accounts, compare credit offers (such as motgages, CC, car loans), or even how to live on a budget. However, we do need to have the MLA format memorized for that research paper, or learn foreign languages, and quite a few other items we might not ever use. If we don't teach our kids how to do this, why should we expect any other result.

Chris said...

I think it was Will Rogers that said, Quote, "Americans will be the first people in the world to drive to the poor house in a brand new car." I enjoyed your post and understand it all to well. Remember to ask yourself's this question before purchasing your mansion, Will you have the house or, will the house have YOU ???